Kuwait Airways to sell $280m stake - FT.com

Kuwait Airways has put up a $280m stake for sale to international carriers and investors, the initial stage of a first airline privatisation for the oil-rich region.

The Gulf state’s struggling national airline, which owns 17 large aircraft, will this week start holding talks with potential investors to offer a management contract and 35 per cent of the privatised entity’s KD220m ($802m) share capital, according to documents seen by the Financial Times.

The Kuwait Investment Authority, the country’s sovereign wealth fund, will subscribe to a fifth of the share capital with the balance slated to be offered to employees and investors in a future initial public offering.

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